Reuters: Bitcoin price plunge may be affected by the dim prospect of Fed rate cuts

Bitcoin had its worst monthly performance since the end of 2022 in April, and has now fallen below the $58,000 support level, ahead of the Federal Reserve's interest rate decision and the release of important data on the U.S. labor market. Bitcoin prices fell nearly 16% in April as investors began to seek profit-taking after prices rose to an all-time high of more than $70,000. The Fed is not expected to make any adjustments to interest rates later, but investors generally believe that the Fed may not cut interest rates at all this year, which will hit interest-rate sensitive assets such as cryptocurrencies, emerging market stocks and bonds, and even commodities. (Reuters)